B.Riley FBR Reaffirms Their Buy Rating on Superior Industries International

B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on Superior Industries International (NYSE: SUP) today and set a price target of $25. The company’s shares opened today at $16.35.

Van Horn commented:

“Superior Industries International (SUP) shares closed up 22.9% vs. the the company reported above-expectation sales, margin, and earnings results for 1Q18. We believe that the impressive first quarter numbers are in line with our thesis that Superior has compelling secular growth prospects even in a somewhat challenging auto production environment. We believe that the company is positioned to benefit from a few key trends, like larger rim sizes, vehicle light-weighting, increased numbers of wheel types available to consumers on vehicles, and increased content per wheel. Additionally, we believe that Superior has favorable mix relative to industry production levels in the North American market.”

According to TipRanks.com, Horn is a 4-star analyst with an average return of 6.8% and a 53.4% success rate. Horn covers the Industrial Goods sector, focusing on stocks such as Tower International, Park-Ohio Holdings, and Unique Fabricating.

Currently, the analyst consensus on Superior Industries International is Moderate Buy and the average price target is $26, representing a 59.0% upside.

In a report released yesterday, Barrington also assigned a Buy rating to the stock with a $27 price target.

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Based on Superior Industries International’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $9.7 million. In comparison, last year the company had a net profit of $3.1 million.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SUP in relation to earlier this year.

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Superior Industries International, Inc. engages in the design and manufacture of aluminum road wheels for passenger cars and light-duty vehicles. It offers its products to original equipment manufacturers for the automotive industry. The firm supplies cast aluminum wheels with wheel manufacturing operations in the United States and Mexico.